It's funny about planning. Often what plays out from that doesn't align with the law of supply and demand. The big guys in Japan projected a growing demand for lawyers. The result was creating 68 new U.S.-type law schools. That provided the supply. But the demand didn't happen.
In The Wall Street Journal, Jacob Gershman reports on how many of those schools are now being closed. In 2004, there had been 72,800 applicants to those Japanese law schools. In 2014, there were 11,450.
Around 1967, the U.S. Government projected a surge in demand for college professors in the humanities. The NDEA Title IV Fellowship was created to finance education and training for those who would fill those positions. I was awarded one of those grants for doctoral studies at the University of Michigan. By time I was studiously producing a dissertation on Thomas Hardy, the demand had collapsed. It never really recovered.
Policy makers plan. The Gods laugh.